Another loss estimate places it at $335 million. OUCH!
Estimated loss from cargo ship fire rises to $335 million, report says | Automotive News (autonews.com)
The article doesnāt make it clear as to whose losses are whose.
I think itās possible that the total loss is $335 million, and that after insurance is factored-in, VW will lose an estimated $155 million.
It seems to me that Mitsubishi OSK Lines may be responsible for much of the losses if the fire wasnāt a result of the cargo catching fire first.
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Maybe silly question, but why not close the hatches and just starve the fire of oxygen?
Cargo holds especially for cars can be huge. They have many access points and ventilation. Think of a large enclosed parking garage and trying to button everything up. Google ship fire with car carriers and you will see a lot of pictures that give a perspective of the size
Exactly. Adding to the problem is that a large number of the cars had lithium ion batteries, which are extremely hard to extinguish once they catch fire.
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Another problem is getting to the hatches. See @SteveCBTās first comment above about the stairwells acting as furnaces.
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Yeah, theyāre not going to risk crewmen to save some expensive cars. Abandon ship, let it burn.
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The ship was pretty far from Rhode Island; I read they hope to tow it to a European port as it is too large for the Azores, which it is near.
A floating multistory parking garage, Iāve seen a video of one that ships Mini and Rolls Royce Ghostās along with heavy equipment and itās a carefully orchestrated procedure to get everything loaded in the right order.
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I had envisioned there being a hatch on the out side that could be closed but then I am not a sailor .
Video walkthrough inside a similar ship, this one with a load of Kiaās onboard.
As someone who works in logistics I can add a little detail to the issue of losses. When a disaster, such as fire, strikes on board a vessel the vessel owner can declare āgeneral averageā. Basically everyone with cargo on board now has to pay for the damage to the vessel. Those without marine cargo insurance covering their cargo are entitled to $500 per shipping unit (per car in this case) and must post a bond or cash pending the general average subrogation, which can take as long as 10 years.
Please donāt tell my how unfair this is. The back of every bill of lading has thousands of words in fine print that outlines the carrierās limit of liability. It is a legal contract of carriage and it dictates the $500 limit because that is what the Carriage of Ocean Goods by Sea Act (COGSA) stipulates. If you cover your cargo with a marine cargo insurance policy then you get back the covered amount and the insurance company deals with general average.
All of this is no different then shipping a small package by UPS, FedEx, or USPS. They all ask you if you want insurance on your package. If you decline then the carrier will only pay you up to their limit of liability (very little) and you have no recourse to ask or sue for more.
Carriers are around to make money transporting your goods. None of them offer any implied guaranty regarding loss or damage to your cargo beyond whatever regulatory requirement is dictated. I am reasonably sure that automotive companies carry a blanket marine insurance cargo policy, as do most regular shippers of international cargo.
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Forget about getting āfire saleā Porsches, Lambos, and Bentleys. The ship sank.
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It would make a good heist movie if it was actually in good shape and being towed to a secret islandā¦
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It someone can recover the ship they can sell all the vehicles as flood salvage, or fire salvage, or both. How do we work pestilence into this? 
I woulda trusted these cars about as much as I would a new VW/Porsche with no smoke, water, or fire damage: not very much
I meanā¦we are in an ongoing global pandemic
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